Circle Chief Executive Officer Jeremy Allaire will be the sole crypto-industry representative to testify next week before the Senate about the need for clear regulation for digital assets.
The hearing—titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain”—follows extensive Senate hearings on Facebook’s Libra; it also comes a week after our decision to expand our global offerings with the launch and regulatory licensing of a new subsidiary in Bermuda, which joins our operations in the US, Ireland, the UK, and Hong Kong.
Circle has long advocated for changes to US policy and is the most regulated, licensed, and compliant crypto-finance company in the world. Circle holds an E-Money Issuer License to operate in the European Economic Area, Money Transmitter Licenses in 48 US states, and the first BitLicense to be awarded by the New York Department of Financial Services.
Circle also owns SeedInvest, an affiliated FINRA-licensed broker-dealer and Alternative Trading System, and with its recent news about Bermuda became the first major crypto company to receive a comprehensive Digital Assets Business License for its international operations.
Despite the uncertain regulatory outlook, Circle will continue its advocacy efforts so the US economy is not left behind by opportunities created from digital asset and crypto innovation.